Posted inBasics
Posted inBasics
Preparation Of Income And Expenditure Account
The practical steps involved in the preparation of an Income and Expenditure Account from the…
Posted inBasics
Balance Sheet
Balance Sheet of a non-trading concern is prepared in the usual way and contains particulars…
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Income And Expenditure Account
It is a nominal account of non-trading institutions equivalent to the Profit and Loss Account…
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Accounts For Non-Profit Making Organisations
Introduction Non-profit making organisations, also known as non-trading institutions or organisations, include such voluntary associations…
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Insurance Policy Method
Under this method, instead of investing the money in securities an insurance policy for the…
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Depreciation Fund Method
Business assets become useless at the expiry of their life and therefore, need replacement. However,…
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Annuity Method
Sofar we have described such methods of charging depreciation which ignore the interest factor. Also,…
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Methods Of Calculating Depreciation
The following are various methods of depreciation in use: 1. Fixed instalment method or straight-line…
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Causes Of Depreciation
The depreciation occurs because of the following: 1. Constant use: The constant use of assets…
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Accounting For Depreciation
Introduction The term depreciation refers to the reduction in or loss of quality or value…